TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0184%/8h= +20.1% APRnext payment +$0.23 per $10,000 · paid last 24h −0.012%

Price spread now: Deribit against Lighter+0.131%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$580.577% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.221%−$22 on $10k

Price spread, last 4 days (all we have)−0.242%−$24 · spread now +0.131%, 7d avg +0.037%

Together, before fees−0.463%+ Points / potential airdropLighter: Season 3 · farm board−$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.093% dearer against Lighter than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.037%. Mind the row above: over the last 7 days funding on this pair cost −0.221%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1419	−0.0184	get 0.0023% / 1h	35m 23s	$948K	$933K	10x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1447	0	get 0.0000% / 1h	35m 23s	$404K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee DeribitbpOrdersPrice spread, now +0.131%Rate

Funding earned: $38.64
Price spread: +0.131% → +0.037%: $9.34
Slippage, 4 orders: −$50.66
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$9.68
Costs to cover: 0.577%
Break-even: 8.8 days

Slippage from Lighter: live order book, 20 min ago; Deribit: live order book, 23 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 20 min ago	1.39 bp	8.5 bp −$8	36.1 bp −$361	doesn't fit	doesn't fit
Sell Deribit live order book, 23 min ago	7.68 bp	21.3 bp −$21	doesn't fit	doesn't fit	doesn't fit

TRUMP on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective TRUMP/USDC PERP	−0.1690%	1h	2.1350	−0.322%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1437	+0.082%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0215%	1h	2.1435	+0.075%	$95	$6K	5x	as long as short
Lighter TRUMPlong	−0.0184%	1h	2.1419	long leg	$948K	$933K	10x
Gate TRUMP_USDT	−0.0076%	4h	2.1440	+0.098%	$7.6M	$50.7M	75x	as long as short
Variational Omni TRUMP	−0.0026%	4h	2.1381	−0.176%	$654K	$482K	—	as long as short
dYdX TRUMP-USD	−0.0004%	1h	2.1446	+0.127%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1447	+0.131%	$404K	$72K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1455	+0.167%	$40K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0008%	4h	2.1428	+0.040%	$105K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TRUMPUSDT	+0.0013%	4h	2.1444	+0.115%	$60.3M	$241.2M	75x	as long as short
Paradex TRUMP-USD-PERP	+0.0014%	8h	2.1431	+0.055%	$5K	$175	5x	as long as short
Extended TRUMP-USD	+0.0016%	1h	2.1430	+0.050%	$74K	$749K	25x	as long as short
Bybit TRUMPUSDT	+0.0028%	4h	2.1450	+0.145%	$30.4M	$49.4M	50x	as long as short
Orderly PERP_TRUMP_USDC	+0.0047%	4h	2.1440	+0.098%	$4K	$210K	10x	as long as short
BloFin TRUMP-USDT	+0.0061%	4h	2.1450	+0.145%	$4.1M	$676K	75x	as long as short
Aevo TRUMP-PERP	+0.0088%	1h	2.1426	+0.030%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1472	+0.247%	$14.2M	$7.4M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1442	+0.108%	$420K	$828K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1444	+0.115%	$184K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1430	+0.051%	$27.1M	$172.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1430	+0.051%	$403K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1450	+0.145%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1450	+0.145%	$15.5M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1437	+0.084%	$251K	$315K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1419	−0.001%	$176K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1460	+0.191%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1400	−0.089%	$496K	$2.1M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1444	+0.115%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0221%	1h	2.1468	+0.228%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1430	+0.051%	$278K	$279K	50x	as long as short